OREANDA-NEWS. October 14, 2008. The Russian Bank for Development within implementation of the corporate strategy of the State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” pertaining to SME lending support is continuing to increase SME lending support via two-tier lending procedure, reported the press-centre of RBD.

A regular credit line with a limit of indebtedness of RUR 72.3 mln was opened to one of the major banks of Tatarstan -OAO AIKB "Tatfondbank" (Kazan). The loan agreement meets the growing financial requirements of SMEs of the republic.

Pursuant to the agreement the priority shall be given to development and support of industry and services as well as science, innovations and high technologies. Four years of implementation of the joint SME support program enabled RBD and Tatfondbank to finance projects related to construction of houses with a total square of over 14.6 thousand square meters.

Moreover the loan funds under the joint program were channeled to production, processing and sales of ferrous metals, in particular to purchase of special purpose equipment. Alongside the financing was provided to production of polymeric components used in food and timber industries, agricultural engineering industry, in ventilation and air-conditioning systems and at enterprises involved in pumping equipment production.